| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 10 April 2019 |
| Investment | An overseas investment in significant business assets, being the Applicant’s acquisition of Chorus House, at 66 Wyndham Street, Auckland. |
| Consideration | $144,500,000 |
| Applicant | NZ Federal Limited United States Public (80.3%) Various overseas persons (9.6%) United Kingdom Public (3.1%) Canada Public (2.4%) Switzerland Public (2.1%) Japanese Public (0.8%) French Public (0.6%) Norway Public (0.6%) German Public (0.5%) |
| Vendor | 66 Wyndham Limited New Zealand Public and Various Entities, New Zealand (100.0%) |
| Background | The Applicant is a special purpose vehicle of the Invesco Real Estate Asia Fund III (Fund). The Fund invests in real estate and related assets in the Asia-Pacific region. The Investment involves the Applicant’s acquisition of Chorus House, a commercial property at 66 Wyndham Street, Auckland. The Applicant intends to continue leasing the land to tenants as a commercial and retail space. The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment. |
| More information | Glenn Shewan Bell Gully PO Box 4199 AUCKLAND 1140 |